This compares to Verizon's market capitalisation or total value of issued shares of 124million US dollars (£76million), implying the venture is undervalued by the market.

Although action is not likely soon, a number of options for the future of the venture have been suggested going forward, including a full merger of Vodafone and Verizon, a spin off of Verizon into a separate listing and a full or partial purchase of Vodafone's stake in the operation by Verizon.

There are also signs the a deal could be reached soon with the Indian government, which demanded Vodafone pay a $2.2billion (£1.4million) Indian tax bill. Reports today said New Delhi is planning to amend the legislation that led to the demand.

Vodafone's dividend policy is also up for renewal at its year end in March, when growth is expected to be slower than the 7 per cent seen over the last few years, but the dividend yield is about 7 per cent. Shares are a buy at 165.2p.

MAIL ON SUNDAY

Midas recommended Majestic Wine shares in January 2011 when they were 405.75p. By December 31, 2012, they had risen to 469p but the group said last week that Christmas trading was lacklustre and the stock sank back to 429p.

Brokers remain optimistic about this company, however, and most believe the shares will recover during 2013.

On January 8, chief executive Steve Lewis said UK sales over the festive season grew just 1.1 per cent year on year, excluding the impact of new space.

This was disappointing, suggesting that the economic downturn has affected even Majestic shoppers, who are traditionally a more resilient bunch than the average consumer.

The picture may be brighter over the longer term, however. The group has just under 200 stores but intends to increase that to 330 over the next few years.

It has only four per cent of the off-licence market, meaning there should be plenty of room to grow.

Majestic specialises in offering a premium service, so staff are trained to be able to advise on wine choices and tend to look, sound and act like the sons and daughters of its customers.

Traditionally, Majestic sold wine only in cases of 12, but this was reduced to six in 2009. Last year, the company changed the limit online as well, a move that should spur internet sales.

In the first six months of 2012, online sales grew 14 per cent and further strong growth is likely.

Brokers expect profits of £23.6million for the year to March, a marginal increase over 2012. But they forecast a nine per cent increase in profits to £25.9 million in 2014, and a 10 per cent rise to £28.5million in 2015.

The dividend is also forecast to increase steadily over the next two years, from 15.6p in 2012 to 20p in 2015.

Majestic shares were hit hard last week and investors suffered. This is not a time to dump the stock, however, as the price should bounce back over the next few months. Hold.